Co-op City Shareholders

Shareholders

Co-op City shareholders start out as neighbors and become friends through involvement in the community. Building associations gather shareholders for social activities and discussions on quality of life matters which are then addressed with management. A wide range of social clubs unite members and offer programs and activities.

Seniors make up an important and vibrant part of Co-op City. With more than 6,000 senior citizens living in the development, many of whom have lived much of their lives and raised their families here, Co-op City is considered the largest naturally occurring retirement community (NORC) in the nation. JASA, in cooperation with Riverbay Corporation, provides an extensive array of activities for seniors including trips, daily nutritious meals and programming in Co-op City’s three community centers. The JASA weekly schedule is published in the Co-op City Times each week along with articles from the community’s many certified clubs and organizations.

The Co-op City Times also publishes directors’ viewpoints, committee reports, management reports and updates to the community, CCPD reports, and a treasure trove of other information relevant to Co-op City and shareholders. The newspaper is delivered to all residential buildings, townhouse clusters and community centers every Saturday. It can also be read online at issuu.com/cctimes. In addition, the Co-op City Times also produces informative videos aired on the Riverbay Crawler.

Finance Department

Riverbay Finance department oversees the corporation's offices for:

Payroll – Weekly payroll for corporation's employees

Accounts Payable – Processes all payments to vendors who provide goods and services to Co-op City.
Accounting – Insures all financial transactions are properly accounted for, and works with the outside audit firm that performs annual audits of the corporation's financial records and issues certified financial statements.

Collections – Handles all legal procedures necessary to collect monies owed to Riverbay Corporation by shareholders and commercial tenants; generates legal documents for Housing Court, and serves as the liaison between Riverbay and the City Marshal, Riverbay's outside law firm and the moving company.

Budget – Works with the various operating departments within Riverbay Corporation to compile the Annual Operating Budget and Five Year Capital Improvement Plan. As of 2020, Riverbay Corporation is a $235 million operation. This process requires developing the budget for the fiscal year to predict what amount of revenue will be coming into the corporation and what funds will be needed to operate Co-op City as well as fund capital improvements currently underway within the development. Once the budget is developed, it is submitted to the Riverbay Board for review and approval, after which it goes to the NYS Homes and Community Renewal (HCR) for their review and approval. After the budget is approved, it is monitored monthly to determine if Co-op City is operating favorably or unfavorably to the Budget, which, in turn, allows executive management to make necessary adjustments to achieve financial performance within the budget.

Accounts Receivable – Collects and processes payments of monies owed to the corporation resulting primarily from shareholders' carrying charges/maintenance payments as well as from rental income from commercial and professional spaces. This area also handles in-person and telephone inquiries from

The Finance department reports to numerous city, state and federal agencies for various data and filing requirements, assists shareholders with questions about SCRIE and DRIE and interfaces with NYC agencies that administer these programs. Reports and various data are required to be submitted to the US Department of Housing and Urban Development (HUD) as part of the HUD-guaranteed mortgage agreement and Co-op City's lender, Wells Fargo.

For shareholders' convenience, the Finance department's bookkeeping window operates Monday-Friday, 9 a.m. – 5 p.m., except on the two busiest days of the month when an extended schedule is in place to accommodate all shareholders:

10th of the month – Last day for maintenance payments without the assessment of a $50 late fee – 8 a.m. – 5 p.m.

Last business day of the month – Last day for maintenance payments before legal action commences and a $200 legal fee is also assessed to the shareholder's account – 8 a.m. – 5 p.m.

Monthly Maintenance Payments

There are several options for paying your monthly carrying charges or maintenance.

Online at GoZego.com (Powered by PayLease). Payment is made using your bank information or credit card (extra fee).

Lock Deposit Deposit maintenance envelopes in the lock box conveniently located in each of the three community centers (Bartow, Dreiser, Einstein centers), at the local branch of New York Community Bank inside Stop & Shop in Bay Plaza Mall or mail in the envelope included with your maintenance bill to the P.O. box on the payment stub. Drop boxes are open the first business day of the month and close on the 10th.

In person – Maintenance checks can be delivered to the Finance Department’s Bookkeeping window in the Administrative Office, 2049 Bartow Avenue, Bronx, NY 10475. Bookkeeping extended hours are available on the tenth and the last business day of each month.

CSO

Cooperator Services Office (CSO) is shareholders first step to obtaining essential services and information regarding their apartment and living in Co-op City. There is a CSO in each community center that serves neighboring buildings and townhouse clusters.

Call Center

The Riverbay Call Center is shareholders centralize customer service line for maintenance, restorations and inspections appointments. The telephone number is (718) 320-3300, select Option #2. Call Center representatives are trained to provide each caller with the highest level of customer satisfaction.

The Riverbay Call Center averages between 350-400 calls daily with a 99-100% answering rate. Heavy call volume days are Mondays.

Parking & Leasing

Riverbay Parking & Leasing Department operates eight parking garages and the Bartow Mall
parking lot. The department also manages the day-to-day operations of the three community
centers, including negotiating and finalizing commercial and professional leases and
supervising repairs and renovations in the shopping and community centers.
In addition, the department facilitates community room rentals and storage closet
rentals. To contact Parking, Leasing & Storage, call (718) 320-3300, and follow the prompts.
The office is located in room 23 of the Bartow Center, 2049 Bartow Avenue, Bronx,
NY. Extended hours are available on Tuesdays and Thursdays, 9 a.m. – 7 p.m.

Community Relations

Riverbay Community Relations Department and the Riverbay Fund often collaborate to offer year-round programs and activities for families and children. These events include health fairs, topical workshops, outdoor concerts and fairs, block parties, Splash Days, Halloween, Easter and Fourth of July celebrations, a Senior Citizen prom, holiday celebrations and a host of other programming. The department also serves as Riverbay Corporation’s liaison to various city agencies, elected officials and businesses.

The Community Relations Department approves flyers for posting in lobby bulletin boards in residential buildings and community centers. The department also supervises certified community clubs and organizations and liaises between shareholders interested in forming new clubs/organizations and the Board’s community relations committee to secure approval.

Annual Riverbay Board Election

Election of Riverbay board directors takes place annually between April – June. Shareholders of record have a responsibility to participate in this democratic process to ensure the Riverbay Board remains a representative body charged with making policy decisions on behalf of all shareholders to ensure affordability and sustainability of the development. Three election supplements outlining the views of each candidate are published in the Co-op City Times, along with the election rules and schedule. Candidates’ forums are also scheduled for shareholders to hear directly from those seeking their votes to serve on the Riverbay Board of Directors. These forums are broadcast on the Riverbay Crawler. Voting is conducted electronically by an independent election vendor.

Anonymous Whistleblower Hotline

If you have knowledge or a concern of possible violations of law, accounting irregularities, or other suspected wrongdoing affecting Riverbay, you are encouraged to report it to law enforcement, or you may report it through an anonymous hotline by the following methods:

Call the following independent third party whistleblower hotline at 1-833-290-0009 (English) or 1-800-216-1288 (Spanish);

Send an email to [email protected] (email must include “Riverbay” in the subject); or Send a fax to (215) 689-3885 (the fax must include “Riverbay” in the subject of the report).

Communications

Community alerts and notifications are transmitted to shareholders through Phone Tree messaging system, and on the Riverbay Crawler (channel 12 on master antenna and channel 591 on Optimum). The Co-op City Times is the official publication of Riverbay Corporation. The newspaper is published and delivered to all residential buildings, townhouse clusters and community centers on Saturday morning. It provides a forum for the Riverbay Board of Directors and management to engage with shareholders and vice versa. It is also the medium through which the state supervisory agencies communicate with Co-op City shareholders. Shareholders access information about the various clubs and organizations available to them by reading the clubs’ articles in the newspaper. Advertisers may purchase ad space in the Co-op City Times to promote their goods and services to Co-op City residents. The Co-op City Times also produces timely news and information videos for broadcast on the Riverbay Crawler – channel 12 on the master antenna (MATV) and channel 591, Altice.

Getting Involved

Join a Board committee – Each year, chairpersons of the Board of Directors’ standing committees solicit members from among shareholders to serve on those committees. Board committees are advisory in nature and make recommendations to the full Board for policies, services and programs to enhance the lives of Co-op City shareholders and ensure cost effective delivery of services to residents.

Building associations – Each building association meets monthly for granular discussions on issues of concern within the respective building and its surroundings with Management personnel. Building associations also sponsor programs to promote cooperative living, provide social interaction among neighbors and self-improvement.

Clubs and organizations – A variety of certified clubs and organizations receive support from Riverbay Corporation to provide creative, social and themed activities for shareholders’ enjoyment. These get-togethers build friendships, promote cooperative living and encourage shareholders to share information

Resources

Below is a table of Shareholder resources and how to. Please review the table for information regarding each available resource.